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OperationsResearchDefinition
MeaningFeaturesLimitations
Post:GauravAkrani.Date:9/17/2011.NoComments.Label:Management,Production
Planning.

OperationsResearchDefinition

AccordingtoPhilipMcCordMorseandGeorgeE.Kimball,

"Operationsresearchisascientificmethodofprovidingexecutive
departmentswithaquantitativebasisfordecisionsregardingthe
operationsundertheircontrol."
YourCityDoctorMeltsBellyFatIn5
...
AccordingtoRussellL.AckoffandC.WestChurchman,
HealthReports

"Operationsresearchistheapplicationofscientificmethodsto
arriveattheoptimalsolutionstotheproblems."

3BestWaystoImproveSexual
Potencyin...

FEATURED
ImageCreditsEmir.

WorldsTop10MostPoisonous
MeaningofOperationsResearch VenomousDeadliestSnakes

OperationsresearchORmeanstoapplyscientificandmathematicalmethods BalayamNailRubbingExercise
CuresAlopecia,HairLoss,Bald
fordecisionmakingandproblemsolving.
WhatisCreditCard?Meaning
OR does not provide decisions else it provides quantitative data to the DefinitionSizeAnatomyGlossary
managers.Themanagersusethisdataformakingdecisions.
DifferenceBetweenPrimaryand
SecondaryData
ORtriestofindbettersolutionstodifferentproblems.Hence,itisusedtosolve
TopInventionsandDiscoveries
complexmanagementproblems.
byScientistsAtoZListScience

ORhelpstotakedecisionsaboutoperationsandproduction. HowtoImproveHuman
Relations?
OR was first used during the Second World War by England to solve their
HowToPrepareForSuccessful
complex war problems. England made OR teams. These teams included JobInterviews?BestInterviewTips
expert mathematicians, statisticians, scientists, engineers, etc. These OR
HowToSummarizePassage?
teams were very successful in solving England's war problems. Therefore,
SummarizationSkillsTechniques
United States of America (USA) also started using OR to solve their war
BasicPrinciplesofInsurance
problems.Afterthewar,soonindustriesandbusinessesalsostartedusingOR
ExamplesofInsurancePrinciples
tosolvetheircomplexmanagementproblems.
IndianMoneyMarketFeatures,
DrawbacksandRecentReforms
FeaturesofOperationsResearch ConceptofMarketingResearch
(MR)MarketingResearchProcess
Themaincharacteristicsorfeaturesofoperationsresearch(OR)are: ScrollTop
 MANAGEMENT

ManagementFunctionsAnd
Process,ManagementThought

PlanningFirstPrimaryImportant
FunctionOfManagement
YourCityDoctorMelts
BellyFatIn5... ManagementByObjectives
(MBO)PeterDruckerMBO
HealthReports DecisionMakingProcessIn
ManagementProblemSolving

Authority,Responsibilityand
AccountabilityInManagement

PrincipleofDelegationof
AuthorityImportanceofDelegation

OrganisationOrganizational
3BestWaystoImprove
StructureOrganisationalChart
SexualPotencyin...
DecentralisationAdvantages
andLimitationsofDecentralization

ManagerialLeadershipLeader
QualitiesLeadershipTheories

HumanResourceManagement
HumanResourceDevelopment
1.CreatingaModel:ORfirstmakesamodel.Amodelisalogical
MotivationMotivationalFactors
representationofaproblem.Itshowstherelationshipsbetweenthe IncentivesTheoriesofMotivation
differentvariablesintheproblem.Itisjustlikeamathematicalformula. 1 (City)
... Maslow'sHierarchyofNeeds
Fore.g.AssetsLiabilities=Capital+AccumulatedReserves. TheTheoryofHumanMotivation
2.ShowsImportantVariables:ORshowsthevariableswhichare HealthReports FrederickHerzberg'sTwoFactor
importantforsolvingtheproblem.Manyofthevariablesareuncontrollable. TheoryMotivationHygiene
Factors
3.SymbolisestheModel:TheORmodel,itsvariablesandgoalsare
convertedintomathematicalsymbols.Thesesymbolscanbeeasily DouglasMcGregor'sTheoryX
andTheoryYEmployee
identified,andtheycanbeusedforcalculation. NEWARTICLES Motivation
4.AchievingtheGoal:ThemaingoalofORistoselectthebestsolution
DavidMcClelland'sAchievement
forsolvingtheproblem. Motivation,ManifestNeedTheory
ImportanceofMarketing
5.QuantifyingtheModel:AllvariablesintheORmodelarequantified. ResearchtoGovernment
MarketingMixand4P'sofThe
Thatis,theyareconvertedintonumbers.Thisisbecauseonlyquantified Fayol'sPrincipleofDivisionof MarketingManagementArticle
datacanbeputintothemodeltogetresults. WorkMeaning,Example,
WhatisMarketSegmentation?
Explanation
6.UsingMathematicalDevices:Dataissupplementedwithmathematical ImportanceInModernMarketing
devicestonarrowdownthemarginoferror. PrinciplesofGoodLayoutforan
5m'sofadvertisingand
AdvertisementCopy
advantagesofadvertising
7.UseofComputer:Themainfocusisondecisionmakingandproblem
BasicAssumptionsofLawof
solving.Forthispurposecomputersarewidelyused. QualityControlTotalQuality
Demand
ManagementTQMQualityCircles
8.Interdisciplinary:ORisinterdisciplinary,becauseitusestechniques
fromeconomics,mathematics,chemistry,physics,etc.

9.HighestEfficiency:ThemainaimofORistomakedecisionsandsolve
FINANCE
problems.Thisresultsinthehighestpossibleefficiency.
WhatisFinance?Meaning
DefinitionFeaturesofFinance
LimitationsofOperationsResearch
WhatisFinancialPlanning?
Thedemeritsorlimitationsofoperationsresearch(OR)aredepictedbelow. MeaningTypesofFinancialPlans

WhatisFinancialManagement?
MeaningDefinitionScopeArticles

WhatisCorporateFinance?
MeaningWhatitIncludes?

BANKING

WhatisaBank?Introduction,
DefinitionandFeaturesofBank

DifferentTypesofBanksWhat
areVariousKindsofBanks?

1.Costly:OperationsResearch(OR)isverycostly.ThisisbecauseOR CommercialBanksDefinitions,
ScrollTop
makesmathematicalmodelsfortakingdecisionsandsolvingproblems. PrimarySecondaryFunctions
Thecompanyhastomakevariousmodelsforsolvingdifferentproblems. BalanceSheetofCommercial
Allthisincrementsthecost. BankLiabilitiesandAssets

2.NotRealistic:ORexpertsmakeverycomplexmodelsforsolving HowtoOpenBankAccount?7
problems.Thesemodelsmaynotberealistic.Hence,theymaynotbe StepsToOpenBankAccount

usefulforreallifesituations. WhataretheAdvantagesof
OpeningBankAccount?
3.Complex:ORisverycomplexconcept.Itisverydifficultforanaverage
managertounderstandit.Therefore,mostmanagersdonotuseOR SavingAccountBankMeaning,
FeaturesandAdvantagesofIt
techniques.
FixedDepositAccountofBank
Meaning,Features,Advantages

WhatisCurrentBankAccount?
ItsFeaturesandAdvantages

RecurringDepositAccountIn
BankMeaningandFeatures

WhatisaCheque?Definition
KindsandTypesofCheques

WhatareFeaturesofCheques?
MainCharacteristicsofChecks

WhatisCrossingofCheque?
3BestWaystoImproveSexual DifferentTypesofCheckCrossing
Potencyin... AutomatedTellerMachine(ATM)
TheAdvantagesofATMMachine

EBankingOnlineBanking
MainAdvantagesofEBanking

PrinciplesofGoodLending
CustomSearch Search
EveryBankerFollowsLoans

DifferentFormsofAdvancesby
CommercialBanksLoanTypes
Related DutiesandResponsibilitiesof
ComputerOperatorinBank

NationalisationofBanksinIndia
IntroductionObjectivesDemerits

NarasimhamCommitteeReportI
1991II1998Recommendations

NewEconomicReformsofthe
BankingSectorInIndiaBrief

FunctionsofReserveBankof
WhatisProduction WhatisProduction WhatisStrategic India(RBI)CreditPolicyofRBI
Management? Planning? Planningfor
MeaningDefinition MeaningDefinition Production?
... Objectives Definition...
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